TrueMark Investments LLC Cuts Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

TrueMark Investments LLC lowered its position in MongoDB, Inc. (NASDAQ:MDB) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,629 shares of the company’s stock after selling 458 shares during the period. TrueMark Investments LLC’s holdings in MongoDB were worth $1,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MDB. Hilltop National Bank increased its stake in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the last quarter. NCP Inc. bought a new position in shares of MongoDB in the fourth quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new stake in shares of MongoDB during the third quarter valued at approximately $36,000. Continuum Advisory LLC lifted its holdings in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during the period. Finally, Versant Capital Management Inc boosted its position in MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MDB. Robert W. Baird lowered their target price on MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Wedbush dropped their target price on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Loop Capital decreased their price target on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Needham & Company LLC dropped their price objective on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group decreased their target price on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $320.70.

Insiders Place Their Bets

In other news, CFO Michael Lawrence Gordon sold 1,245 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $291,442.05. Following the completion of the sale, the chief financial officer now owns 79,062 shares of the company’s stock, valued at approximately $18,507,623.58. The trade was a 1.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,139 shares of company stock valued at $11,328,869 over the last quarter. 3.60% of the stock is owned by corporate insiders.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $198.66 on Wednesday. The company’s fifty day moving average price is $249.24 and its 200-day moving average price is $268.17. The firm has a market capitalization of $14.79 billion, a price-to-earnings ratio of -72.50 and a beta of 1.30. MongoDB, Inc. has a one year low of $173.13 and a one year high of $387.19.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the company earned $0.86 EPS. As a group, equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.